Trying To Rebuild Credit With No Sucess

[6ftladycop]

How will we know that they report to the big three credit bureau's? What websites can you go to to find out about secured credit cards?

[sandhall]

well i sent mine because every time I disputed they sent letter saying verified and it was a invalid dispute. So I highlighted every creditor on each report that should have been IIB and mailed the discharged papers with the creditor matrix and blacked out everyone but the ones I highlighted on credit report. Plus I have noticed that yesterday i called experian to ask about a letter i recieved from them and today I get a email from them saying that my score has changed LOL so i clicked the link to see and what they did was erase three collection accounts that I have never disputed because they had zero balances. But when I was on phone with the lady she must have thought I was disputing them LOL. So that was 40 point increase

[CindyLou]

I've read on a couple of "repair your credit websites that you shouldn't send b/c if you ever try and dispute the bk they will not investigate. The same for any accts on the matrix. You are stuck with them for the whole time, whereas some will eventually dispute as "not mine" or "inaccurate" and eventually have some of them removed.

Basically, sending the discharge papers make them permanent as you have verified the info in writing for them yourself.

Now don't anyone jump in me here re: the morality of disputing "not mine"....just stating what I've read.

[HeatherB]

I'll have to look up why some people believe a person should not send in discharge papers. I'm not sure of the reason. Once I find out, I'll post what I found out.

Well, only thing I've heard is that if you send in the papers, sometimes the CRA lists EVERYthing as IIB. Even if it wasn't actually included (stuff that's been reaffirmed). Then, if you had anything that you were current on and was in good standing, it states IIB (which is derogatory). Then, if you dispute that they could possibly delete it. Once it's deleted, they have no way of knowing it was there and you could have to contact the creditor and plead with them to "re-report" to the CRAs.

This is all just stuff that I've read that has happened to someone. Not everyone. But could you imagine having to go back and call 3 or 4 different creditors and ask them to report to the CRA. I don't think they would do it until they usually report. It *could* turn into a big mess.

That being said, if pretty much everything you had was IIB, then there would be no harm in it (other than making the CRA's job easier by doing their work for them).

[chpxiii]

I'll have to look up why some people believe a person should not send in discharge papers. I'm not sure of the reason. Once I find out, I'll post what I found out.

[rrockinggramma]

I sent in my stuff to all 3 agencies in December. I have yet to hear back from any of them. Equifax told me they didn't have me on file but they had my name all screwed up, so I disputed that. I had to send them a copy of my driver's license and my social security card and something with my current address, so I sent in a copy of my voter registration card. But no responses yet.

[sandhall]

I sent in copies of my discharge and had no problems they corrected everything within 24 hours after recieving

[chpxiii]

I've heard it's not a good idea to send your discharge to the credit bureaus. If disputing with the credit reporting agencies doesn't work, you will have to go to the creditor themselves.

A good resource for this is http://www.creditboards.com. They have a library of letters to send, and have quite a few knowledgeable people there as well.

[NOMOREBADCREDIT]

Thanks everyone.

[sandhall]

I would mail Transunion a copy of the discharge along with the creditor matrix and give then in writing thirty days to correct your report

[NOMOREBADCREDIT]

Thanks everyone for youre help iam having problems with experian will not do any disputes i mail them the disputes. trans union sends me a letter stating my disputes are frivolous. trans union states they verified the accounts that where discharge in bk. hows that.

[cap350z]

Credit Rebuild

I'm surprised that First Premier hasn't come knocking at your door.

I think it's just a roll of the dice when your are recovering from bankruptcy. And it's up to whomever is approving you. Because it's strange that someone else you may know who has filed bankruptcy that's in worse shape than you are get approved for credit. And when you go to the same creditor, they turn you down.

Before my bankruptcy was even discharged. I got two pre-approved offers from First Premier and Orchard Bank. HSBC was involved in my bankruptcy, very strange that Orchard was knocking on my door.

Just keep trying, you'll get your chance to get back in debt (LOL). Just do it wisely.

And by all means avoid pay day loans like the plague. I've made the mistake by getting involved with these lenders. They suck you dry and completely stall the process of re-building credit. In my opinion.

[tinroofrusted]

Reports MUST be cleaned first!!
If not, you don't stand a chance of getting credit. I had to wait almost 6 months to start getting offers in the mail after discharge....

[stljohn]

Its never too early to start the rebuilding process but it is counterproductive to make applications without first cleaning up the reports.

[CindyLou]

For me I started with Aspire. 150.00 fee. For hubby I started off with First Premier 125.00 fee. We decided to do this just to get things started. Both cards came with 300 credit line ...minus the fees of course.

Now some will recommend against this. But it is the decision I made right after my BK to "jumpstart" my credit. I just looked at it as a "cost of business" at the time and I am very happy with the results. Both hubby and I now have WAMU cards with 3500 limits, Juniper with 2500+ limit as well as have been able to refi our car at 6.75%, and are now in the process of buying a home with an FHA loan. We also got approved for a Sears card with a 5200 limit.

My opinion is pay the fee and start rebuilding. Others will say, "heck no" don't ever pay a fee. But the choice is ultimately yours and knowing what you can afford and how you want to go about it.

I would remind you that if you have not started cleaning up your credit report to reflect that your accounts were included in BK, this could be a huge reason your are being decline. You should get a copy of all three reports and start disputing those accounts that still show delinquent.

Good luck and keep us posted.

We have been diligent to keep our utilization low.